Egypt is targeting investment of nearly 1.65 trillion pounds ($55 billion) during the current 2023-2024 fiscal year, the Planning Ministry said on Tuesday.

The Ministry said in a report published in Addustour and other newspapers that the private sector is expected to pump nearly 35.4 percent of the total investments, or nearly 600 billion Egyptian pounds ($19.4 billion) during the fiscal year, which ends on June 30.

Such investments will allow the most populous Arab nation to attain its growth target of 4.1 percent, according to the report.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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